3 Apr

Bank survey hints at credit improvement

Bank survey hints at credit improvement

The Bank of England's credit conditions survey for the first quarter has produced suggestions that the availability of secured finance will soon rise.

A key finding of the survey concerning such funding was that "a small net balance of lenders was expecting an increase in overall credit availability over the next three months".

Such a situation could lead to the credit crunch easing and more mortgages being made available to first-time buyers and buy-to-let investors.

The chief economist of the Royal Institution of Chartered Surveyors, Simon Rubinsohn, suggested today that the "low point in terms of transaction activity has now been seen", adding that low interest rates and recent house price falls should help transactions to continue rising.

However, he suggested, this does not mean that the government should not act to provide more support to the market in order to help groups such as first-time buyers.

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